The report, which tracked Manhattan properties in the Trump portfolio between 2007 and 2017, found average prices for Trump condos fell below the average for all other Manhattan condos for the first time last year. | Getty

Trump-branded condos in Manhattan see price drops during Trump's first year in office

President Donald Trump’s time in office may be taking a hit on Trump-branded properties, according to a new report from CityRealty.

The report, which tracked Manhattan properties in the Trump portfolio between 2007 and 2017, found average prices for Trump condos fell below the average for all other Manhattan condos for the first time last year. And almost all of the 11 buildings surveyed saw price drops in 2017, according to CityRealty Director of Research Gabby Warshawer.

Story Continued Below

“Did Donald Trump’s campaign and subsequent year in the White House have an effect on prices in buildings that bear his name? Considering each building individually, there does appear to have been a discernible effect, with prices trending downward in most Trump-branded buildings over the past year,” the report stated.

CityRealty assigned investment ratings to each building included in the report, and rated five of the 11 properties as bad investments. Only one — Trump Parc at Central Park South — was listed as a good investment, with the remaining five considered neutral. Trump Tower, which saw a 31 percent drop in average price per square foot between 2015 and 2017, ranked near the bottom of the list.

The report also found that despite being marketed as luxury properties, condos in Trump-branded buildings have seen prices average below Manhattan’s average luxury prices for the past several years.

The Trump Organization disputed the report's findings.

"Data can be manipulated to tell any story you want ... The fact remains, our buildings sell for the highest prices per square foot of any properties in the world," Eric Trump, executive vice president of the organization, told The New York Times.

He additionally noted the Trump buildings are older than many newer luxury towers on the market, and said comparing the two is unfair.

According to the report, average price per square foot in Manhattan luxury condos went up 56 percent over the decade, from $1,994 in 2007 to $3,105 in 2017, and the average price per square foot for all Manhattan condos rose 51 percent, from $1,237 to $1,864. The average price per square foot in Trump condos rose only 14 percent, going up from $1,529 to $1,741 over the decade.

The report continued: “While it is difficult to predict what the future holds for these buildings, continued churn, controversy and unique circumstances — such as a lawsuit to remove the Trump name from 200 Riverside Boulevard, the presence of the Secret Service at Trump Tower, and protests outside Trump International — do not bode well for prices over the next year.”